An investigation into a corporate network tied to the Australian jewellery trade has revealed a complex web of collapsed entities, with the number of ‘failed’ companies rising from eight to 14. Four months after the most recent update, further research has uncovered six more businesses associated with Laura Moore and Andy Phanthapangna that have been liquidated or deregistered by the Australian Securities and Investments Commission (ASIC). This expansion of the investigation suggests the financial trouble extends far beyond the jewellery sector, with connections also emerging in the optometry industry.
A tangled corporate history
Researchers have traced the origins of this network to Industry Group Network (IGN), a company formed in September 2020. The group was used to acquire Jewellery World magazine. On March 17, 2026, ASIC deregistered IGN under Section 601AB(1) following a wind-up order from the Australian Taxation Office (ATO) on January 23, 2024.
Moore, who was vice president of the Jewellers Association of Australia (JAA) at the time, previously collaborated with Amanda Trotman (née Hunter) on the disastrous 2017 launch of the JAA Jewellery Trade Show. The connection to Trotman deepened significantly when she became the CEO of the Optical Distributors & Manufacturers Association (ODMA) in May 2023.
On February 7, 2024, Trotman announced that ODMA had awarded a commercial contract to Moore’s Industry Group Network Pty Ltd. This announcement was unusual because it occurred just two weeks after the ATO issued the wind-up order against the same company. Just six days later, on January 29, 2024, Moore formed a new company, IGN Media Pty Ltd, using the exact same registered address in Adelaide.
ODMA Chair Craig Chick was contacted regarding the apparent conflict of interest and the timing of the contract award. In a response, Chick stated the board was taking time to consider the reporting. However, subsequent correspondence from the association’s legal representative contradicted the original announcement. The lawyer claimed the relationship was with IGN Media Pty Ltd, an “arm’s length commercial contract,” rather than Industry Group Network, which had already been wound up by the ATO. ODMA provided no explanation for the discrepancy.
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ODMA’s website also contained outdated information regarding its board members. An investigation revealed that the list of directors was months out of date, with one listed director having left their company up to three months prior. While the board eventually removed the incorrect details after questions were raised, they refused to provide a copy of their Code of Conduct or answer further inquiries.
Circular transactions and liquidation
Another company under the IGN umbrella, IGN Research, was also deregistered by ASIC on March 24, 2026. Phanthapangna was listed as a director at the company’s inception on September 1, 2020, but resigned the same day, leaving Moore as the sole director until her resignation in December 2024.
The collapse of this network resulted in significant liabilities. Achievement Collective, co-founded by Phanthapangna and Jye Sims (a director of IGN Media), was liquidated in July 2025 with $2.2 million in debt. QED Technology, another Phanthapangna company, was liquidated in December 2024 with over $2 million in liabilities, having provided a $1.3 million loan to Moore’s IGN Research.
Insolvency expert Hugh Martin examined the financial dealings between these entities. He found that EzyFund, a company owned by Phanthapangna, facilitated “circular transactions” designed to create a paper value for the group. Martin noted that these transactions may constitute voidable transactions. The liquidated Apeirogon Pty Ltd, which was connected to Industry Group Network, was among the companies involved in these financial schemes.
It remains unclear who currently holds ownership of the Jewellery Industry Network website. The domain, which ODMA directed members to in 2024, was registered to Apeirogon Pty Ltd—a company that has since been liquidated. Moore is listed as the registrant and technical contact. As the investigation continues, questions remain about the oversight and governance surrounding these corporate arrangements.
